Federated Hermes Inc. Buys Shares of 83,793 Pembina Pipeline Co. (NYSE:PBA)

Federated Hermes Inc. bought a new stake in shares of Pembina Pipeline Co. (NYSE:PBA – Get Rating) (TSE:PPL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 83,793 shares of the pipeline company’s stock, valued at approximately $2,545,000.

Several other institutional investors also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. grew its position in shares of Pembina Pipeline by 2.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,905 shares of the pipeline company’s stock valued at $562,000 after purchasing an additional 414 shares during the last quarter. Pictet Asset Management SA grew its position in shares of Pembina Pipeline by 15.2% in the third quarter. Pictet Asset Management SA now owns 286,670 shares of the pipeline company’s stock valued at $8,754,000 after purchasing an additional 37,900 shares during the last quarter. MCIA Inc grew its position in shares of Pembina Pipeline by 102.4% in the third quarter. MCIA Inc now owns 44,728 shares of the pipeline company’s stock valued at $1,427,000 after purchasing an additional 22,628 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of Pembina Pipeline in the second quarter valued at about $578,000. Finally, Teamwork Financial Advisors LLC grew its position in shares of Pembina Pipeline by 11.7% in the third quarter. Teamwork Financial Advisors LLC now owns 10,981 shares of the pipeline company’s stock valued at $333,000 after purchasing an additional 1,149 shares during the last quarter. 55.08% of the stock is currently owned by institutional investors.

Pembina Pipeline Stock Down 1.4 %

NYSE PBA opened at $32.81 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.53 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average is $34.53 and its two-hundred day moving average is $34.13. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 5.10 and a beta of 1.29. Pembina Pipeline Co. has a 1-year low of $29.64 and a 1-year high of $42.74.

Pembina Pipeline Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend is Tuesday, March 14th. Pembina Pipeline’s payout ratio is 49.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. StockNews.com downgraded Pembina Pipeline from a “buy” rating to a “hold” rating in a research report on Monday, February 27th. Credit Suisse Group downgraded Pembina Pipeline from an “outperform” rating to a “neutral” rating in a research report on Friday, December 9th. TheStreet raised Pembina Pipeline from a “c+” rating to a “b-” rating in a research report on Thursday, November 17th. CIBC lifted their target price on Pembina Pipeline from C$52.00 to C$53.00 in a research report on Monday, February 27th. Finally, Scotiabank lifted their target price on Pembina Pipeline from C$50.00 to C$51.00 in a research report on Monday, February 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.63.

About Pembina Pipeline

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Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: Pipelines, Facilities, Marketing and New Ventures, and Corporate. The Pipelines segment includes conventional, oil sands and transmission pipeline systems, crude oil storage and terminalling business and related infrastructure.